Value of agency banking transactions in Kenya 2012-2022
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In 2022, the value of banking transactions undertaken through bank agents in Kenya increased to roughly 1.83 trillion Kenyan shillings (KSh), around 13 billion U.S. dollars. In general, adherence to the agency banking model has been increasing in the country. The system was rolled out in 2010 by the Central Bank of Kenya, allowing commercial banks to contract third parties to offer financial products and services on their behalf. Traditional banks could, therefore, extend their network without the need of increasing the number of branches.
